Michigan Laws 324.31710 – Aquifer protection revolving fund
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Terms Used In Michigan Laws 324.31710
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Department: means the department of environmental quality. See Michigan Laws 324.31701
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Fund: means the aquifer protection revolving fund created in section 31710. See Michigan Laws 324.31701
- Groundwater: means the water in the zone of saturation that fills all of the pore spaces of the subsurface geologic material. See Michigan Laws 324.31701
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) The aquifer protection revolving fund is created in the state treasury.
(2) The fund may receive money or other assets from any source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments.
(3) Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.
(4) The department shall be the administrator of the fund for auditing purposes.
(5) Money in the fund shall be expended by the department only to implement this part and to reimburse the department of agriculture and rural development for its actual costs incurred in implementing this part.
(6) If money in the fund is used to conduct hydrogeological studies or other studies to gather data on the nature of aquifers or groundwater resources in the state, the department shall include this information in the groundwater inventory and map prepared under section 32802.